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's going to come from, how the government is going to make more money. democrats want it to come from increased tax rates on the rich, republicans would prefer to make that extra money by reforming the tax code and entitlements. bill: how is the president trying to rally the public around his ideas, peter? >> reporter: in part with a hashtag. my 2k. the white house is saying if the u.s. goes off the fiscal cliff it will cost the average middle class family $2,200 a year and they want middle class social media users, twitter users who don't want that to happen to get online right now. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress. right them an email. post it on their nice book walls. you can tweet it using the hashtag, my 2k. >> reporter: as you heard at the top of the show treasury secretary timothy geithner is going to be on the hill today. one of his meetings will be with senate major
of the medical are too -- government -- i don't want to -- medicare, keep complaining about -- and because the hospital -- and they never contribute that much noun medicare. and they put all the money they could toward the working -- if you add them up, it's not that much money. host: to the proposal at hand, what are your comments or thoughts about it? caller: i think it should be cut a lot more than what they cut, because environment is what is killing this country and upping medical costs. they should get the sobel security. but i thought that's what the problem is and -- the congress and legislator to stop to fay medical. host: we'll leave it there. you may have seen this picture, it's the president of the united states in the oval office with his foreman opponent, mitt romney. according to some it was a private launch the featured turkey chili and the actual conversation that never happened while two presidential nominees are come paining against each other, they pledge to keep in touch and maybe even work together all that according to what happened behind closed doors, the two men t
back to state and local governments. but during an era of fiscal restraint and global warming, it's high time that we start this conversation in earnest. how big do you want your fema to be? how generous your disaster relief payments and how much do you want to pay for it? in today's "new york times" op-ed section, there's an article that points out potential liability for flood insurance alone is $1.25 trillion. second only to the liability for social security. right now we have arguably the worst of both worlds. the federal government responds to disaster usually paying too much for the wrong people to do the wrong things. we provide federal money to put people back in harm's way and sometimes provide infrastructure to make future risky development worse. we often take remedial action, like for theifying beaches, a temporary solution, that can actually accelerate erosion elsewhere, shift storm damage down the coast to another spot or more serious flooding downriver. by giving the illusion of protection, more people locate in dangerous areas and the vicious cycle is repeated with
not because of government. companies were carved by bacteria simply to protect their brand. competition, device the pipes are reputation, it protects us much better than government over well. that is our show. i am john stossel, thank you for watching. [app >> gregg: financial future of the country may hang in the balance as the nation gets closer to a fiscal cliff. democrats and republicans have one month to come up with a plan to stop the across the board tax hikes and the major federal spending cuts from taking effect. i'm gregg jarrett. >> heather: i'm heather childers. some of the early optimism for a deal seems to be fading. steve is live in washington with more. >> reporter: one month away from that so-called fiscal cliff. there appears to be very little movement toward any kind of deal. president obama is using the bully-pulpit to appeal to the american people to push for immediate action to push the tax cuts for everybody except for those earning more than $250,000 a year. in his saturday address, he stressed the urgency of the situation. >> if congress does nothin
rebels struck a major blow in the heart of the government today killing a top ruling of the party in a car bombing and someone is cutting off internet and cell phone communication in syria in certain areas. both sides pointing fingers at the others. all of this as decision-maker in washington try to make a decision on how involved the u.s. should be. we get the latest tonight from correspondent connor powell in jerusalem. hello, connor. >> forces loyal to bashar assad show a city of aleppo while rebels filed mortars at the damascus international airport causing damage to the runway to force several airlines to cancel their flight. >> the assad regime air superior over the syrian rebels appears to be disappea disappearing. in the past 24 hours they shut down two helicopters. rebels used the antiaircraft guns to shoot down the helicopters in the past. but now they have access to more shoulder-to-air missiles. >> we have shut down mitt-23 jet with this missile from the syrian army. >> but where the weapons truly come from is a mystery. both qatar and turkey reportedly have given figh
or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look, republicans need to compromise. they need to keep tax cuts in place forpeople earning $250,000 and less. heays it's time to make a change and now people on the hill saying that the g.o.p. is splintering. what do you say? >> that's not true. actually, what tom was trying to say was it's a tax call thing. tom is against raising taxes on any level. he's against raising taxes on all folks, but have agreement with the president onhis group that's $250,000 and less, clear the table and make the bracket.ions in the upper he's against raising rates on every single one of those. th's been a clarification. gerri: what about corker and grahm and all these people in washington, elected representatives now saying,you know, i'm rethinking whether there should be a no tax pledge. >> true. that's on the senate side. on the house side,evenue
strength during the olympics of course, he proved that, to really help the federal government become more efficient and more effective at setting out or meeting the commitments it makes. i think why not bring in a republican business guy to do that and there's certainly a wonderful tradition. truman brought hoover in from the cold in the 1940s and there was a man who had been villainize ed since the great depression and he ran the hoover commission. of course, fdr, the british were already in the war and he sent wendell willkie over as his personal emissary. there's a great tradition of using the person you beat if you're on the right page. >> aside from that luncheon, chris, speaker -- >> they're not there, though. they're not up to this level yet. these two fellows. i don't see it yet. >> speaker boehner continues to stamp his feet. he says treasury secretary tim geithner, with whom he met this morning, i'm quoting him, has no specific plan. but isn't speaker boehner confusing the issue here? the president has made it clear that he wants to sign a bill that's already passed the senate a
for the u.s. government taking care of senior citizens and we saw it in the 30's and the 70's with the oil shock and did see the birth rate in the united states decline. it's higher than italy and japan, but it's not good for an aging society when the birth rate declines and it's shocking-- >> and support ourselves. stuart: yes. >> it's shocking that the birth rate for immigrants is dropping, too. stuart: astonishing, thanks, ladies. hold on the gold report a little early this morning, where are we now? 1,725.10, we're down just $4 this friday morning and as you know, there's a fight on capitol hill all about this fiscal cliff and the media is, as always, in the democrat's corner. that will be my opinion. and mark is next. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. >>
welker, thank you. >> thanks. good to see you, chris. >>> now from the third branch of government. we're covering the entire government today. we'll find out if the supreme court will weigh in on a pair of hi high-profile cases that would help define the rights and benefits of same-sex couples. pete williams is the justice correspondent. he joins me from outside the supreme court. good morning, pete. >> reporter: good morning, chris. we're wait to go hear whether the court will take either of these two cases. the defense of marriage act passed in 1996 by congress, signed into law by president clinton. and what it says is that for federal law purposes, marriage can exist only between a man and a woman. so that means this in the nine states where same sex marriage is legal, if a same sex couple gets married there, they're considered mayrried for state lw but not federal law and the practical consequence is they are denied about 1,000 federal benefits, tax benefits, survivors benefits, to be covered under health insurance. that sort of thing. it will have to decide whether that law is un
detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised to use chemical weapons against their own people, and all it would take really is the final order from syrian president assad. but we have learned that as of today, all the precursored chemicals for that deadly nerve gas have in fact now been loaded on to aerial bombs, but those bombs are still in the depots. they haven't been loaded on to airplanes yet, and president assad hasn't given the order. but they're pretty close, larry, and that's why earlier this week, of course, president obama issued a very strong statement aimed at president assad saying look, if you use these weapons against your people, there will be se
i think about that, why would the government want to put in place an incentive to introduce people to invest in riskier securities? dividend paying stocks are lower risk than those who are oriented toward capital gains, our shareholder base, average age 63 years old, they help buy our stock to help supplement their retirement income, their income is 77,000 a year, you say they are not subject to this cap, or half they come up with, the fact is, when you increase taxes, on growth capital, like we're talking about. we've seen since the election, a 7% reduction in asset values, stocks dropped 7 per for those people who rely on the stocks, just as they interthe retirement years that is a mistake. >> todd, maybe you can help me with this but i, always wonder, whether we're just changing our sense of perception, when i -- my first closer, my wife and i a condo we bought, i expected out landish closing costs. and they were just a little bit less out landish, they were still out landish, but since i was picturing them charging me for gdp -- >> did you make a good deal or how did you do? ne
increases. we're saying it now like it's normal. 25% of gdp for government spending and you've got bloated government already, you start there. you start at government spending. you don't immediately start spending another 50 billion in stimulus. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members from the budget committee? >> i don't want to raise taxes to fund 25% of gdp. >> and actually, the american taxpayers are being told to pay their fair share. they want to see real entitlement reform as well. but you have to deal with the issue on the table. i mean, the spending right now is a percentage of gdp is 24%. it's projected to go substantially higher. do you know that medicare and medicaid didn't exist 50 years ago and they're now a quarter of the federal budget? >> i know. it was supposed to be supplemental. david walker was on the other day talking about obama care which is supposed to save us a trillion dollars and the actual cost, wha
more of their money to the federal government, without raising tax rates, which we believe will harm our economy. >> treasury secretary tim geithner also weighed in yesterday saying the president is willing to allow the nation to go over the cliff if republicans don't agree to raise taxes on the wealthy. >>> we are learning new details about colorado's shooting suspect james holmes now that thousand of e-mails in the case have been reap leased. messages indicate holmes may have had a brief romantic relationship in the days before the tragedy. we have learned that in early june, holmes began specifically talking and fantasizing about killing a lot of people. his psychiatrist was so worried that she broke confidentiality and then contacted campus police. >>> here in new york, a suspect has been charged with murder for shoving a man to his death on the subway tracks. police say, 30-year-old, naim davis admitted to pushing the victim after the two argued on the platform. the judge denied davis bail. he admitted to police he stayed on the platform watching the man get struck by
to help make government more efficient. there is a big debate going on about government spending, wasteful spending. maybe he will enlist mitt romney for a initiative along those lines. jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll b
increase and take away any restraint on the government borrowing of new money you're looking at potential higher unemployment, that the real danger you have runaway borrowing and set up what is called a debt crisis at some point in the future. this plan or anything like it, if it is imposed january the 1st is very bad news for the economy. martha: you know, democrats say republicans, we just saw chris van hollen, representative van hollen saying come forward, republicans tell us what you would cut from spending. perhaps republicans need to come out with something equally unpassable, perhaps but as a starting point? melissa: well the republicans have proposed they will allow, they will go for some added tax revenue, get more money from wealthy people. they have already proposed that. that has been flat-out shot down with the democrats. martha: because not in form of increase in tax rates. melissa: precisely. the president insists on rearranging society, redistributing wealth. that is at the core of this plan. the republicans oppose that. they're miles apart. but you take the politics out o
. >> it is political revenge. pays for 8.5 days for government spending. you don't get anything except for lower productivity of people you ask to create more jobs. that is why. >> he can final it in his base. that is why he is proposing more spending. >> brian: incredible. to see him campaign with tinker toys and angry birds makes us think it's another 4-1/2 years instead of rolling up the sleeves and get the deal done. he goes to pennsylvania -- >> andrea: a small business. which is so ironic. the same group of businesses that are hit hardest by the tax increase. >> eric: i don't know if we outlined the deal that geithner proposed. $1.6 trillion. $1.6 trillion in the tax hikes. that's what he says. they are $1 trillion off on that. not meeting in the middle. no spending cuts. spending cuts are delayed. forward. 10 to 15 years down the road. hope congress decides to -- >> andrea: he will be long gone. obama will be long gone. >> bob: you are saying -- geithner says $1.6 trillion? >> eric: it comes from tax increases. >> bob: on who? you're saying go over the cliff? >> andrea: i think the republ
-called haircut can be revisited. in the past, merkel's government had ruled out forgiving any debt. >> in corporate new, ubs is reportedly close to a settlement. the "new york times" says the swiss bank is expected to pay horn $450 million over claims that some of its employees submitted false libor rates. that's pretty huge story and we will take a look and ten to see what happens with this. also morgan stanley trader is under investigation by cme regulators over trades and treasury futures four years ago. at the time he was employed by goldman sachs. he's now head of global interest rates products at morgan stanley. the probe is aimed at establishing whether hadden's late trades hat manipulate closing prices and made other trades more profitable. also singapore airline says that it is in talks with interested parties to sell its 49% stake in virgin atlantic. delta is reportedly among the potential suit ors. delta is said to want to gain access on injury gain's landing rights at london heathrow. >> biggest international hub h around. i think an dwderson is really g. it's profita
government. merry christmas, government. you are not the real savior. the reverend joins us live this christmas season. >> brian: super storm sandy couldn't wipe out his home but something else did. >> she said to me. are you sure your house is gone. you misplace a pen and pencil but not a house. >> gretchen: how the entire house vanished."fox and friendst now. ♪ ♪ "fox and friends". >> steve: a house is something that is not easy to misplace. if you leave it there, you come back and it is there. >> gretchen: you hope that happens. we'll fill you in on the details. in the meantime what happen in a phone call. a lot can happen, right. you can get in fights and agreements and compromise. hum, i am not so sure that happened in the phone call between speaker of the house john boehner and president of the united states, barack obama. did they come to a conclusion. it is now the president's turn. >> brian: it is a week since the president and speaker talked. i do not know at of this moment who called who. >> steve: we know no details. >> brian: it is good there is no details. i jus
the government. >> silvia, thanks for your thoughts on all of that. if more year joined by julian. welcome. you're out with a view on your next year that doesn't sound too rosy. you talk about the economy contracting half a percent. challenges in the core countries. so walk us through how important the german vote is tomorrow and whether greece gets its aid as to the more broad brooutlook. >> the outlook is not improving. it's deteriorating for the eurozone. economic fundamentals are getting worse particularly in the countries of germany and france. these are the countries we revise down the most. in the periphery, there are signs that the recession is stabilizing. we're below the consensus. typical view is that the economy will broadly stagnate next year, we think it will continue to shrink and the ecb will continue to cap interest rates and perhaps at shall point the bond buying program will be in spain. >> and so when we talk about the sequence of events that markets are looking for the next couple of months, the main one still seems to be when spain asks for aid. pushed into the first quart
the federal government work better. the president requested reorganization authority from the congress to do just that. >> chief strategist from the romney campaign described the way president obama won reelection . there was a time not so long ago when the problems of the democrat party was too liberal and too dependent on minorits. obama turned those problems to advantages and rode that strategy to victory. it comes six weeks after a face to face showdown on the deadly raid in the u.s. consulate in benghazi. >> you said it an act of terror. it was not a spontanous demitration. >> please proceed, governor. >> i want to make sure we get that for the record. >> and while he is in town, he will meet with congressman paul ryan. they have kept in touch and at a are catching up somewhere off cap capt hill where ryan has returned to work. >> steve: i wonder if candy crowley will be invited. >> gretchen: it is a photop. it is disappointing in the sense. if it were president bill clinton, you might think that something. ideas might be exchanged with one another. >> steve: some folks suggest that may
was, a detailed set of reforms in health programs, government programs over ten years, which are going to be tough, but we think they make sense. they don't like all those changes, they might want to go beyond that. but they have to tell us what those things are. you're right on the revenue side. we're proposing to let the rates go back to clinton levels. that would be a good thing to do as a sensible economic policy, and we want to combine that with tax reforms that will limit deductions. there's no surprise in this. we have been proposing this for a very long time. the president campaigned on it and i think that's where we're going to end up. and i think that's there going to be very broad support from the business community and from the american people for an agreement with roughly that shape. >> when you talked about limiting the deductions there have been proposals from governor romney during the presidential campaign, and from other republicans, when you talk about those limitations on deductions, do you include the charitable deduction and the home mortgage deduction? >> i think
on seniors. the government is warning reverse mortgages are not free money. >> turn equity into tax free cash. >> give you tax free cash. >> they're not being told. about the downside. >> reporter: right now in america, 57 seniors in reverse mortgages are in danger of losing their homes. nearly 10% foreclosure rate, 4 times higher than traditional mortgages. the department of housing and urban development will recommend congress prohibit large lump sum payments and recommend seniors be careful with reverse mortgages. is the reverse mortgage the last option? >> i really think it should be, absolutely. >> reporter: an option. >> it is a wonderful house. >> reporter: linda mcmahon regrets taking. >> i hope somebody enjoys it. >> reporter: jim avila, abc news, washington. >> you have to feel for her, too. here's the problem in a nutshell. unlike traditional mortgage. make your payments. equity. a reverse mortgage pays out equity in your home as cash. increases your debt and decreases your equity. that's the problem in a nutshell. that's how the woman got into the situation she did. it sounds good
be expand in china and hire workers in china. >> when the government gives you money and attaches strings, you have to comply with the strings. when the government gives you money and is silent on something going to china you can go to china. bottom line, fm can spend the money in china. neil: if this was presented this was a possibility you think it would have been approved?ty, do you think it would have been approved? >> no, no, not by congress, and if approved by tim geithner, congress would have interceded. this is the third rail gm would use, i don't know if they are using federal dole a for gm to receive billions in taxpayer dollars or money borrowed in their name, loaned to the federal government to gm. neil: we broke all sorts of corporate law. bondholders. they move it back of the line. >> they broke, everything. >> would you pardon this phrase? they broke the law legally. meaning they persuade ad federal bankruptcy judge to disallow 200 years of precedent and twist and bend and torture statutes. the supreme court declined to get involved. i was with a member of the supreme court
on everybody. that means more revenue going into the government. he wants the defense cuts. he proposed even more spending. 2 billion more in spending. connell: even from congress today, there have been republicans hear similar things. it does leave them and whatever that is, it does leave them in a tough spot. now, boehner could come back and say i will not give you $1.6 billion in tax hikes. otherwise, the republicans to take a share of the blame. you know, if we do go over that cliff. >> $400 billion out of medicare. that is the extent to which he is willing to cut. first of all, you have to do reform, connell. you cannot just put a band-aid here caught a little markets on the here. you need a serious overhaul. connell: for what it's worth, my take, he would not want to do it because he would not want to be remembered that push the country back into recession. >> it is not leaving a strong economy, it is transforming the economy into a your -- european socialist. connell: thank you, monica. >> thank you. connell: we do have real numbers on the economy to talk about. today, we learned cons
study notes. it actually came out before the king james version and because the government didn't authorize it, it was outlawed. but it was a bible by the people, for the people, the book that built america. and now for the first time in 400 years it's available again in a beautiful leather edition. i have one, i want you to have yours too. please visit and get your copy of this rare and historic version of god's word today. thank you and may god bless you. >> it is quarter past the hour. here is a look at headlines this morning. >> a lawsuit has been filed after four wounded warriors were killed during a parade in their honor. in the state of texas is train crashing into a truck that was carrying the veterans. now two of those army veterans and their wives have filed lawsuits claiming that the rail company and the truck driver were grossly negligent. politics as usual that's what watch dogs groups are saying president obama is fight will about top donors talking the fiscal cliff. yahoo and comcast among others. the groups say it's the way the president -- it's t
to believe a president or anyone else that later on the government is going to do this? i mean, does he think -- i mean, it's absurd. no american is going to trust that i'm here from the government and here to help you or don't worry, we're going to do this alert. >> it goes back to the basic premise i stated which i don't think the president really wants a deal. he's happy with the deal he's got, and unless the republicans. >> he has no deal. >> he does. he has the deal put in place over a year ago which is all the tax rates going back to where they are, and two big cuts, a big cut in defense and a big cut in domestic program. >> so he wants to go off the cliff. >> all right. he doesn't see it as a cliff. he sees it as a pretty good deal that they negotiated over a year ago that puts him in a position where he doesn't have to negotiate, that he can negotiate from a position of strength. >> but he has a slight other problem and that's at the end of december we're going to bump up against the debt ceiling and he wants that debt ceiling to go up. here's another thing he did which maybe you can
to dangerous levels that might have required a government bailout. a lot of people weren't marking things where needed to go. >> i have a lot of questions about this story. it's an amazing allegation. $12 billion in paper losses. >> a lawyer from one of the whistle blowers will join us at 6:50. in a statement to cnbc, the bank says that allegations have already been investigated and all accounting was proper. >> my biggest questions are the allegations say the bank was doing it 2007 to 2010 and nobody came forward until late 2011 to make any complaints. i just wonder if you had been complaining the whole time along -- >> we just had this discussion about how far away do you need to be to where it's a false mark. at least 10% wiggle room. there were no buyers. if there is buyers, does that make it zero. >> basel 2 created a system that if things became less liquid, there is no change in the actual value of of the underlying asset. just couldn't sell it. so it's a bit like saying my house is a lesser asset because i can't accept it right now even though i don't want to sell it right now. >> who m
, 29, and the powerball is 6. you lost. the government won. "varney & company" is about to begin. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, . . >> . stuart: it's a modern day tea party. it's a revolt led by corporations. the wall street journal reports 173 companies announced they'll pay special dividends for shareholders before the end of the year because a big tax increase on dividends could be coming next year and many companies moving up regular dividends to save their taxpayers, to save taxpayers a lot of money. start with disney. it's raising its dividend and paying it out on december 28th. that's 1.3 billion dollars paid out in total, paid out under the current tax rate. and las vegas sands paying a special dividend, that's a one on shot. 2 and 1/4 billion total. half of that will go to sheldon adelson. costco 3 billion, special dividend, it's borrowing some of the money to pay it and paying it this year until next and that cou
there starts to be a dramatic change around '08, '09. so private employment down, government employment slightly up, medicaid enrollment has soared -- that's what you get that helps folks without a lot of means -- and look at the top line. that represents the food stamps. look at the spike. indicative of some of the struggles we've faced in this country over the past few years. >>> well, some of the folks who have found jobs recently have been hired in anticipation of the christmas season, and black friday p shoppers weren't just looking for deals on the latest electronics. turns out gun sales were also a red hot item. the fbi says it could barely keep up with demand from firearms dealers who were seeking background checks on potential buyers. anna coyman is live in randolph, new jersey,ing with more. hey, anna. >> reporter: well, the fbi saying that this black friday they fielded about 155,000 calls for background checks which did wreak the black friday -- break the black friday record from last year, and they even said some of their call centers were so inundated that they experienced
. >> there is no responsible way we can govern this country with those low rates in place for future generations. those rates are going to have to go up. >> house speaker john boehner appears to be struggling now that the president and democrats are negotiating for a position of power. talking points memo points out republicans are used to getting 70% to 75% of what they ask for in these types of negotiations but now speaker boehner is going on and on about how he's shocked and amazed at president's plan and is refusing to offer a counter plan on the republican side. you want to talk about this or anything else, join us online at we'll see you with more after the break. kind of guys who do like reverse mortgage commercials? those types are coming on to me all of the time now. >> she gets the comedians laughing... >> that's hilarious! >> ...and the thinkers, thinking. >> okay, so there is wiggle-room in the ten commandments, is what you're telling me. >> she's joy behar. >> and the best part is that current will let me say anything. >> wh
of what he did with the olympics could translate to making the federal government more efficient. so it really is all about sort of talking about ways that they can perhaps, you know, use ideas together to move the country forward. but no indication at all that there's some other kind of job hanging out there, that the president plans to offer. >> i know that the governor also has a meeting with his former running mate, paul ryan. but i think -- what i think a lot of people want to know if we're going to hear from governor romney today. oftentimes we have a stakeout, microphone or camera position outside the white house. is that the case today? i know we can't get into that private dining room. what about outside after the governor leaves? >> reporter: we have cameras everywhere, to not only get a shot of the governor going in, but also if he wants to say something, we'll be there, as well. as you pointed out, my colleague, jim acosta, said about a half hour ago, according to a republican source, governor romney was meeting with representative ryan at a hotel here in it d.c. and so i
are a year later after we've been through this fiasco already. we've been through the threat of a government shutdown. everybody's known this time was coming. i understand negotiating. i understand taking a hard line. i just wonder, with america and the world, business leaders here, business leaders around the world, the markets, everybody else looking so closely at this, was it necessary for the president to be so provocative with something that, you know, even "the new york times" said was, quote, loaded with democratic priorities, and really gave republicans nothing. >> again, it's a curious offer. i would imagine there has -- tim geithner's too smart of a guy, and this administration is filled with smart people. they must have a serious strategic plan. but if you were a pedestrian watching this, if the ceo of a company that's not been into the white house, a medium-size to small company, it has to be a source for alarm this morning that maybe they're not nearly as close to a deal as we thought. let alone if you're a ceo if you've been in the office with the president and you've laid out
beneficiaries of medicare. it makes sense. makes the government much smarter for how they buy medicine for people under medicare. those are just three examples. but there's $600 billion of examples in the president's proposals. if the republicans don't like those ideas, and they want to do it differently, they want to go beyond that, they have to tell us what makes sense for them. and then we can take a look at it. but what we can't do is figure out what makes sense for them. >> in terms of tax rates, in your mind, you don't have to go back to the clinton era tax rates for this to be a workable deal. >> well, i think you do. >> all the way up? >> again, our proposal is to let those rates go back to clinton levels for 2% of the wealthiest americans. and combine that with tax reforms that limit deductions for the wealthiest americans. we think if you do that, alongside the spending savings, then you can put the country back on a much more responsible fiscal path. >> including getting rid of the mortgage interest deduction or the charitable giving deduction? do you think those have to be
this government not for eight years or eight weeks or eight weeks but run this government for eight days, which means it's not a solution. the president is not interested in real policy solutions by evidenced by what he has proposed, he's interested in politics and that's the challenge that we have a getting through that and making certain that we not be talking politics, we talk about positive policy for american people, getting committee rolling and getting jobs created. >> the administration, as we've been saying, has said they're prepared to go over the cliff. we heard that from tim geithner. if republicans refuse to raise taxes on the wealthy and john boehner said yesterday that's unacceptable, though he admitted any revenue will be coming from the rich. let me play that for you. >> the revenues we're putting on the table are going to come from guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> there are, as i'm sure you know
inventory investment and federal government spending so got to take that in mind and a decline in imports didn't help that number. liz: a crazy day in the pits of the cme. we have tim mulholland standing by, tom is a 1-act telling why it is time to shift away from -- release save names and diving in, and the dour is headed higher. he calls a day of 14,000, we will tell when he expects it to hit but let's start with him at the cme. you have john boehner, speaker of the house coming out at 11:00 eastern saying no substantive changes or developments after meeting with the treasury secretary and many had harry reid saying it is going to be done by the end of the year-end market, with a place and some gains pretty decent. >> it is to be expected, they still have time and there's always the eleventh hour but at the end of the day rather than trading on those headlines at the end of the day it is pretty clear the election results which serve as a referendum from the august 11th fiasco that we had, the public wants the reasonable solution which means president obama has to move to the middle and
over the role of government. is government an enabler in which case you feel that there should be higher revenue in order to carry on providing some kind of social safety net, or do you feel as republicans do that that just gets in the way of growth? the moment you raise taxes of any form, that's what is a growth inhibitor which is what republicans are saying. >> republicans have accepted the idea that there's going to be revenue. they're over that. the issue now is where does the revenue come from? quite frankly, if the five of us sat around this table, we could get this deal done pretty quickly. it's not hard to compromise it out. you don't increase the rates as much as obama wants. you do some stuff on deductions and so-called loopholes that the republicans want. you create $1.2 trillion of revenue. you have a trillion dollars of savings from some stuff that happened already last year, do some stuff on defense, you could get the $4 trillion package that we need. it's not hard. you just have two sides that are so polarized, have dug themselves into such deep corners, and just
cain and we should agree to torture and torture these government officials. they locked themselves back in a room in the summer of 2011 and did nothing. we report as if this fiscal cliff were a bruce willis movie, an ast troid coming from outer space unexpectedly. this fiscal cliff was deliberately put in place. >> by these guys. >> by these people. >> on their watch. >> you hear harry reid go up there. the senate has been incapable of passing a budget for several years. >> four years. >> i'm not talking about the senate passing a budget and the house agreeing and the president sign. just that one chamber. >> you don't sound like you're hopeful they're going to get a deal done any time soon. >> i think the market is being complacent. i think there likely will be a deal before the super bowl in february. i'd say most likely. but those talks will break down before there's a deal. i'm not sure this market is prepared for a breakdown. >> christian, what about that? clearly, the market is not prepared for it because the market is hanging on every word from each side. what do you want to do i
six days of dictatorial rule. of course, critics say the new government has already taken a step in the wrong direction and the move its making now could ripple across the middle east and affect u.s. interest in the region. protesters have been battling police ever since egypt's new president last week granted himself near absolute power. today, the president said the power grab will only be temporary. >> we have to share everything based on stable laws and based on the separation of powers executive, legislative and judicial. these matters should be independent and will take time. >> shepard: president morsey's infamous political party now has a majority and therefore a very strong hand in drafting the new constitution. that has worried many in the west because it could mean the institution of islamic sharia law in a somewhat secular country that's really been reliably neutral mediator. steve harrigan live in cairo for us. steve? >> shepard, that constitutional assembly is still at it at 2:30 in the morning trying to push through a constitution in one day's time. it's not clear
the olympics around and pointed out perhaps this could help in the government to streamline agencies, make it more user friendly. it will be a different tone from the campaign trail, talking about moving the country forward. at this point, no suggestion that the president plans to hand him any kind of job offer. >> it is a private lunch. no cameras inside. we'll never know what goes on in there. dan, thank you so much. >> we are all here today. we didn't win. but two ticket holders defied the ridiculous odds. they will split the $588 million powerball. >> the numbers are 5, 16, 22, 23, 29 and the powerball of 6. >> you sound like you have done it before. >> i have done it way too much. losing every time. another loser. victor blackwell outside of atlanta. the caviar dreams are over fors all of us. >> dashed. >> reporter: yeah. back to hot dogs and canned tuna for us. those two people in arizona and missouri split the $588 million. the cash payout, $385 million. i neem mapleton, georgia. they are in arizona and missouri. i'm here because this gas station was one of the busiest places to buy
bans that are going to work with governments. chairman bernanke hasn't even commented on it himself, that there's an incentives to weaken their currency. they're going to own stocks to protect that. >> you believe people should buy stocks now? >> i think people should buy some stocks now in order to protect against the transition from deflation to inflation. we have been in a deflationary period now for five years and it's really been driven by the collapse in the credit systems. people are saying we have printed all this money, why vsht we got inflation? you still have central banks working even closer with governments to create that transition. >> a lot of people have reported that velocity number. do you also think that you should come into next year either shortening the long bond where it has not done well, or at the very least start taking money out of the bond funds? >> i think the bond fund story is very poorly told. if you look at the flows into monday fund, it's absolutely changed during the last year or so. but amount of the floes into bhond fund were short to intermediat
years has been controlling the spending, the size and growth of government. controlling the ability of the government to confiscate more of your wealth, to trust more on the middle class and the working class, small business owners. and that's really kind of the link. and that argument, you talked about being primaried, that's the central primary argument that will be -- hit them upside the head in two years when they run is wait a minute. we sent you to control spending, yet you increased taxes. it's not increasing taxes on the wealthy, it's just blanketly you increase taxes. so you've got all this noise going on. and boehner's got to try to figure out a way to give these guys some cover but know he's got to cut the deal. to your point, leigh, about how do you begin to pull it from the big plan to a smaller plan, that's really what the white house and boehner quietly are talking about. >> and what we don't want also is i think a kind of down payment deal that sort of makes it a two-part deal that just delays everything. >> i think you're going to get some of that. i think you'll pr
're willing to sit down with us, we'll talk to them. >> and you have assurances from the u.s. government, the obama administration, that they will vote against this resolution. >> the president has given us unequivocal support and has said categorically the only means to a two-state solution between israel and the palestinians is by direct negotiations without preconditions. >> you've heard lindsey graham and other senators warning if the palestinians use this as an opportunity for example to go to the international criminal court, they would consider cutting u.s. aid. and there are hundreds of millions of dollars a year in various forms of assistance to the palestinian authority on the west bank. would that be smart? i say that in a sense that the palestinian authority is the moderate element of the palestinian movement. they want a two-state solution unlike hamas which doesn't recognize israel's right to exist. don't you want to elevate the palestinian authority at the expense of hamas? >> well, we have great friends on capitol hill, both in the senate and in the congress and on both s
are spending 23% of our gdpp federal government is, in one fashion or another and taking in 18% and that is not going to change all that much with the outlines of this deal. the democrats are not realistic about how much has to be cut and republicans are not realistic about how much taxes need to go. connell: the democratic side of it since we're speaking with you and delve into that a little more. if you are right about certain aspects of this, if dagen mcdowell and me can come after the president said he wanted the one$.6 trillion in revenue and say you wants $1.2 trillion because john boehner had $800 billion on the table last times those with the difference we are not exactly political geniuses all the respected political but anyone could have written that story and come up with a number but how about on the spending side, how do you get more and make $400 billion as they say in the article just kind of a start here you think it needs to be a lot more than that? what is the number? >> i do ultimately think, i also think on taxes we need to have fundamental tax reform tied i
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